A major barrier for financial service institutions to provide small loans is not having enough access to quality data on potenti
26 Oct 2023, 13:33
💻 A major barrier for financial service institutions to provide small loans is not having enough access to quality data on potential borrowers. It could cost $30 to $60 USD just to get the data from and only 40% of signed applications actually lead to the loan getting funded. 😡
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226 Oct 2023, 13:33
4/4 😄 Fortunately, #VerifiableCredentials would help reduce the costs for loan providers to get relevant data in a privacy-preserving way from applicants.
Also, for applicants, it would make the application process much more efficient than filling out paper forms. 🙌
4/4 Fortunately, #VerifiableCredentials would help reduce the costs for loan providers to get relevant data in a privacy-preserv
4/4 😄 Fortunately, #VerifiableCredentials would help reduce the costs for loan providers to get relevant data in a privacy-preserving way from applicants.
Also, for applicants, it would make the application process much more efficient than filling out paper forms. 🙌
26 Oct 2023, 13:33
3/4 😩 Many loan applicants also go through a terrible experience filling out long applications and often filling out the same information repeatedly. This adds more stress to an already difficult situation of living paycheck to paycheck. 🙅♀️
3/4 Many loan applicants also go through a terrible experience filling out long applications and often filling out the same info
3/4 😩 Many loan applicants also go through a terrible experience filling out long applications and often filling out the same information repeatedly. This adds more stress to an already difficult situation of living paycheck to paycheck. 🙅♀️